Renault to sell about 2.5% of Nissan shares for up to 362 million euros

PARIS (Reuters) – French car maker Renault said in a statement it plans to sell about 2.5% of Nissan’s shares to the Japanese care maker in a deal that could result in a cash inflow of up to 362 million euros ($391.76 million).

The shares to be sold are part of the 24.63% of Nissan’s capital held by a French trust and the sale will be implemented as part of share buyback program announced by Nissan, Renault said.

($1 = 0.9240 euros)

(Reporting by GV De Clercq, editing by Inti Landauro)